Singapore-based private equity manager Azalea Investment Management (Azalea) has launched the Altrium Sustainability Fund I (ASF I).

The fund will invest in environmental, social and governance (ESG) focused opportunities to achieve positive environmental and social outcomes alongside private equity financial returns.
 
ASF I is a PE fund-of-funds product that enables institutional and other accredited investors to build an ESG-focused investment portfolio. The fund is co-seeded by sponsor, the Azalea Group, together with homegrown financial services company Singlife with Aviva. Each party has committed USD50 million to kick off the fund.
 
ASF I will back funds which invest in scalable, commercial solutions to solve pressing issues across its five core themes of climate, resource management, healthcare, education, and financial inclusion.